Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 133,959 shares, a decline of 17.2% from the January 29th total of 161,769 shares. Based on an average daily volume of 151,978 shares, the short-interest ratio is presently 0.9 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 151,978 shares, the short-interest ratio is presently 0.9 days.

Insider Buying and Selling

In related news, Director Kevin Rakin bought 70,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $1.06 per share, for a total transaction of $74,200.00. Following the completion of the transaction, the director directly owned 196,120 shares in the company, valued at approximately $207,887.20. The trade was a 55.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Ferguson purchased 60,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was bought at an average cost of $0.53 per share, with a total value of $31,800.00. Following the completion of the acquisition, the chief financial officer directly owned 447,110 shares of the company’s stock, valued at approximately $236,968.30. This trade represents a 15.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 255,500 shares of company stock worth $189,605 over the last 90 days. 27.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELUT. XTX Topco Ltd bought a new stake in Elutia during the second quarter worth about $28,000. Jane Street Group LLC bought a new position in shares of Elutia during the 1st quarter valued at about $48,000. Virtu Financial LLC purchased a new position in shares of Elutia during the 3rd quarter valued at about $26,000. FNY Investment Advisers LLC bought a new stake in Elutia in the 4th quarter worth approximately $25,000. Finally, Renaissance Technologies LLC boosted its stake in Elutia by 64.7% in the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock worth $71,000 after buying an additional 40,123 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Elutia Trading Down 5.0%

Shares of ELUT traded down $0.06 during trading hours on Thursday, reaching $1.13. 69,427 shares of the company’s stock traded hands, compared to its average volume of 274,541. Elutia has a 12 month low of $0.50 and a 12 month high of $3.46. The stock has a market cap of $48.25 million, a PE ratio of -1.23 and a beta of 0.65. The firm’s 50 day simple moving average is $0.91 and its 200-day simple moving average is $1.01.

Analyst Ratings Changes

Several brokerages have commented on ELUT. Weiss Ratings restated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Elutia to a “sell” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Elutia Company Profile

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.